Texas Locke Lord Team Advises Kinetik Holdings in Definitive Agreement to Acquire Permian Resources’ Natural Gas and Crude Oil Gathering Systems for $180 Million

A Locke Lord team led by Bill Swanstrom (Houston) and Henry Benton (Dallas) advised Kinetik Holdings Inc., a midstream operator in the Delaware Basin providing gathering, compression, processing, transportation and water management services, in its definitive agreement to acquire Permian Resources Corporation’s Reeves County natural gas and crude oil gathering systems for $180 million. The transaction, which is expected to close in the first quarter of 2025 following satisfaction of customary closing conditions, provides a multi-stream opportunity for natural gas gathering, compression and processing, as well as crude gathering services for Kinetik. For more information, see the press release. Additional support was provided by Van Jolas, Jack Dougherty, Marc Lipscomb (all of Dallas) and Buddy Sanders (Houston).
Posted on December 17, 2024